Orange is revealing today Orange Bank, its 100% mobile banking offer that has been conceived by digital experts to meet everyone’s needs. The new service focuses on customer uses and integrates the capability to evolve as these needs change.The offer will be available in France for Orange employees from mid-May and for the general public from 6 July 2017. Customers can subscribe directly from the mobile application, online or in one of Orange’s 140 certified stores. Innovative and specifically designed for mobile uses, the offer will provide customers from launch with a bank account, a debit card, overdraft protection and an interest-bearing savings account. Additional services, such as credit and insurance, will gradually be included in the offer.
Right from the outset, the service will integrate a number of cutting-edge, digital and banking innovations including contactless mobile payments, sending money by SMS, instant bank balances, temporary freezing of the debit card and 24/7 access to a bank advisory service. Orange Bank has not simply transferred conventional bank uses to an online application: from the start, they were designed for mobile phones. As a result, 100% of the transactions and interactions between the customer and Orange Bank can be carried out using a mobile phone.
Orange Bank: an agile, customer-oriented bank
Each new Orange Bank function is proven, measured and improved thanks to its customers and to the agility of its teams. Services will be added continually to meet its customers’ requirements.
Orange Bank reinvents the customer relationship
The customer relationship is at the heart of Orange’s strategy and is therefore a key component of its banking service. Today, most of us communicate in text-form using our mobile phones. This is why a “virtual assistant”, available by chat 24 hours a day, 7 days a week, has been specially designed for Orange Bank customers.
Behind the virtual assistant is an artificial intelligence platform that is capable of learning. This means that the more users interact with it, the more it learns about them and the more its responses and actions are pertinent. By the end of the year, it will even know how to perform tasks requested by customers, such as making transfers or putting funds in savings. This artificial intelligence is the first point of contact for all of the bank’s customers.
As necessary, this artificial intelligence system can also put customers directly in touch with a team of more than 100 experts at the Orange Bank customer relations centre.
Pay by card, pay by mobile: the user decides
Orange Bank is the only bank on the market to offer all customers, for free, two completely independent payment methods. They can use the instant, secure mobile payment service 1 , and of course all Orange Bank customers have a customisable debit card 2 .
Instant bank balances
When Orange Bank customers make a purchase on a Saturday for example, they no longer have to wait until Tuesday to check their balance: it is updated instantaneously 3 for greater simplicity and transparency, giving them full control of their budget.
Sending money by SMS
Paying back a friend is as easy as sending a text message: Orange Bank allows money to be transferred by SMS from its completely secure application 4.
Putting a temporary freeze on the debit card
If the debit card is misplaced, it’s possible to put a temporary freeze on it from the Orange Bank application 5, and it can just as easily be unfrozen with just one click.
Orange Bank offers services for free
The debit card will be free, there will be no account fees when its payment methods are used 6, and no minimum revenue will be required for customers.
Orange Bank, origins and objectives
As part of its Essentiels2020 strategic plan, Orange affirmed its ambition in mobile financial services by announcing the launch of a mobile bank in France offering substantial growth prospects. The objective is to reach 400 million euros in revenues in 2018 in the financial services field across all markets. Ultimately, Orange Bank aims to have more than 2 million customers in France.
Orange has a combination of unique and essential assets for a successful launch of Orange Bank: a strong brand embodying key values such as security and reliability, a robust distribution network, and above all the trust of 30 million customers in France. Its credibility in the financial services world has already been demonstrated by the success of Orange Money in Africa and the Middle East, and more recently by the launch of Orange Finanse in Poland.
Stéphane Richard, Chairman and Chief Executive Officer of Orange, commented: “With the commercial launch of Orange Bank for the general public on 6 July, we are writing an important new chapter in the Group’s history. From now on, Orange is also a bank. A bank that places customer experience at the heart of its business model. Orange Bank will build on the professional skills of its banking experts, the disruptive capability of its partnerships with start-ups and of course the traditional assets of Orange: its distribution network, its expertise in digital services as well as its financial strength. By bringing together these different sources of energy, we will be able to meet the expectations of our customers in a way that enables us to permanently adapt ourselves as their needs evolve.”
1 Conditions apply; based on contactless technology issued and operated in Metropolitan France and in the overseas departments by Wirecard Bank AG (Einseinring 35, 85609 Aschheim, Germany – registration number HRB 161178) over the Visa network, in partnership with Orange Bank and under license to Visa. Visa is a registered trademark of Visa Inc.
2 Conditions apply.
3 Instant balances given for information purposes only. Conditions apply; subject to monetary rules applied by the merchant.
4 SEPA transfer. Orange Bank sends an SMS to the beneficiary asking for his/her banking information. Transfer made upon receipt of this information and subject to a sufficient bank balance.
5 If the card is permanently lost, the holder should stop payments definitively with the bank.
6 Starting at three payments or withdrawals per month by Visa card or Orange Bank mobile payment. Otherwise, bank fees apply (€5/month).